HgCapital, a UK mid-market private equity firm, has invested £150m (€217.2m) in Germany five years after starting up in the country with the purchase of a stake in DocMorris, a pharmacy business.

HgCapital acquired 46% of DocMorris for about €70m ($88.4m) but with no debt. The equity investment came from HgCapital's fourth fund, which is now more than 50% invested, and HgCapital Trust, an investment trust listed on the London Stock Exchange.